Okemo Owners Finalize Crested Butte Purchase

Ludlow, VT, Mar. 2, 2004 - Tim and Diane Mueller, owners of Okemo Mountain Resort in Ludlow, VT and operators of Mount Sunapee Resort in Newbury, NH announced that the purchase of Crested Butte Ski Resort in Colorado from the Callaway and Walton families and it subsidiaries is now final.

The Muellers signed a Letter of Intent for the purchase of Crested Butte Ski Resort in October of 2003 and the final closing took place on March 1, 2004. Tim and Diane Mueller and Triple Peaks, LLC officially took over the ownership and operation of the Colorado ski resort on March 1, 2004.

"It is with great excitement that we look forward to our involvement at Crested Butte Ski Resort and in the community of Mt. Crested Butte," said Tim Mueller. "We intend to build upon the attributes of the mountain with a Master Plan of improvements that will take place over time and will be in keeping with responsible, planned growth and development that remains consistent with our standards of environmental responsibility and commitment."

"When we took over the ownership and the operation of Okemo and Mount Sunapee, we recognized the potential in each resort and placed guest service and the quality of the recreational experience as our top priority," commented Diane Mueller. "Our vision for Crested Butte is to reinforce its reputation for excellence and position it as Colorado's premier resort destination."

Crested Butte is located in southwest Colorado in the town of Mt. Crested Butte and is best known for its historic town, exciting nightlife and some of the best extreme skiing in the world. The resort has 85 trails spread over 1,058 acres, with 14 lifts and receives over 240 inches of natural snow each season.